Global X says the ETF’s fee will be 0.45% versus an industry average of 0.85%. It says benefits of the ETF include 1099 tax reporting, rather than the complicated K-1s forms MLP investors must usually deal with, as well as qualified dividends and eligibility for IRAs and 401ks. The fund pays quarterly income distributions.

“North America’s energy supply is constantly being transported, stored and processed to meet growing demand,” Global X said in a statement. “Energy MLPs are owners and operators of key pieces of infrastructure involved in this supply chain, and as a result may stand to benefit from continued energy use and additional investments in U.S. energy infrastructure.”

The Global X MLP ETF is based on the Solactive MLP Composite Index, which consists of 30 MLPs, including as the three largest components Energy Transfer Partners LP (ETP), Enterprise Products Partners (EPD), and Plains All American Pipeline LP (PAA).

Historically, Global X said MLP returns have not been highly correlated with the broader market as represented by the S&P 500, offering investors the potential for portfolio diversification.

Amey Stone is Barron’s Income Investing blogger and Current Yield columnist. She was formerly a managing editor at CBS MoneyWatch, MSN Money and AOL DailyFinance. Her responsibilities included overseeing market coverage and personal finance topics. Prior to those roles, she was a senior writer at BusinessWeek where she authored the Street Wise column online and contributed to the magazine’s Inside Wall Street column. Topics covered included economics, corporate finance, Fed policy, municipal bonds, mutual funds and dividend investing. She co-authored King of Capital, a biography of Citigroup Chairman Sandy Weill. She is a graduate of Yale University and Columbia University’s Graduate School of Journalism.